2027 GDP Forecast Factors In Global Uncertainties -- Amir Hamzah

KUALA LUMPUR, Oct 9 (Bernama) -- Malaysia's gross domestic product (GDP) growth forecast of 4.2 per cent to 5.2 per cent for 2027 takes into account global uncertainties, including ongoing developments overseas, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

Despite global uncertainties, he said Malaysia’s economy remained resilient, supported by positive developments, with the country recording growth of 5.7 per cent in the first half of 2026.

“As Prime Minister Datuk Seri Anwar Ibrahim has said, our efforts to strengthen the country this year have yielded results, with year-to-date growth reaching 5.7 per cent as of the second quarter.

“Inshaa Allah, we are projecting growth of between 4.8 per cent and 5.3 per cent for 2026,” he told reporters after the tabling of Budget 2027 here today.

Amir Hamzah said the government would continue to support the growth of micro, small and medium enterprises (MSMEs) through increased financing, cash assistance and tax deductions.

He said government assistance was extended to all segments of society, including the middle-income group (M40), through various initiatives to help ease the cost of living.

He said the increase in individual tax relief from RM9,000 to RM12,000 was introduced after taking into account that the relief had remained unchanged since 2010.

“The M40 group also benefits from the targeted petrol subsidy initiative under BUDI95 and the targeted diesel subsidy, which aim to reduce subsidy leakages to foreigners and other ineligible recipients.

“When we provide school assistance, we do not leave out the M40, T20 or B40 groups, because the assistance is intended to support our children,” he said.

-- BERNAMA